What exactly is Bitcoin? What exactly is "mining"? Why is there an increase in power consumption?

When it comes to traditional currencies, I believe the first that comes to mind are thebitmain t17+ RMB and USD, but there is another virtual currency that cannot be touched in real life, and the most common one is Bitcoin.

In fact, we are not entirely unfamiliar with the name of a bitcoin, and I believe that friends who are more interested in student information technology on the Internet are also not entirely unfamiliar with it. According to data from a university study conducted in 2021, the power consumption caused by bitcoin "mining" can be as high as 134.89 TWh. This is enough to cover Malasia's annual electricity consumption.

Many of you may have only heard the term Bitcoin, but what exactly is it? How exactly does "mining" work? Why is there an increase in electricity consumption as a result of this?

Bitcoin is a virtual currency that is generated primarily through computer operations and can also be used directly for some cross-border trade payments and remittances. Although the amount of this currency is small in comparison to other virtual currencies, antminer a10 proit has some negative consequences in the country.

One of the most frightening aspects is that Bitcoin is frequently used to convert illegal fundraising.

Prior to May 2021, hydroelectric power plants in China's Yungui Mountains had cheap electricity traded in bitcoin, and bitcoin was used to buy cheap coal in China's Xinjiang region. China has worked hard to suppress such currency transactions in the face of such threats.

This is because if companies do not put an effective stop to this in time, our country will have consumed 3.5 years of power generation from the Three Gorges Dam under the influence of Bitcoin by the year 2024, and this development is a huge waste of social resource management for our China's needs. Furthermore, the application of this network virtual world currency will most likely not involve the operation of a10 pro minersome black tourism industry, either from our country's own monetary sovereignty or from national information security, and it is impossible to allow this virtual currency policy to continue to run rampant in our country.

So, aside from comprehending the nature of Bitcoin, what exactly is mining? The process of obtaining bitcoins from a computer, which is a virtual currency obtained from a computer's calculations, is referred to as "mining" in bitcoin.

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